Changyang Technology: Net loss of 145 million yuan in 2025.

Changyang Technology released its performance report, showing that the total operating revenue in 2025 was 1.079 billion yuan, a year-on-year decrease of 19.24%; the net profit was a loss of 145 million yuan, compared to a loss of 29.4365 million yuan in the same period last year. During the reporting period, the company's main product, reflective film, maintained a stable foundation; affected by macroeconomic environment, market supply and demand, and other factors, competitive pressures in products such as lithium battery separators, adhesive films, and optical base films intensified. In 2025, the company reduced sales and production of low-margin products such as lithium battery separators and adhesive films, leading to an increase in impairment losses provision for related fixed assets and construction in progress of lithium battery separators, adhesive films, and optical base films.